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💎 Growth Gems #01: Product Led Growth

Every week I share growth strategies/tactics in the form of Growth Gems, a weekly newsletter also containing the latest business news and unique content. Going forward, I'll share excerpts from the latest newsletter highlighting helpful content. Let me know what you guys think!

💎 Growth Gems (Product Led Growth)
The future of growth is product...product led growth.

What
Product led growth is the concept of focusing on product to drive your go-to-market strategy. An example of this is rather than pouring endless amounts of money into FB/IG to acquire users you build a feature or product integration with another platform to acquire users. This ends up resulting in lower customer acquisition costs and increased engagement of users. When done correctly, PLG it helps you build virality levers. Or in other words, it allows you to create a distribution loop that acquires and converts users.

Company Examples
Slack
Madkudu
Supermetrics
Dropbox

How
The goal is to create levers within your product that maximize the user experience. For example, if you're a product like Supermetrics, you build integrations into other apps such as Mailchimp, so users can access data from marketing channels that don't natively speak to each other. If you're a product like Madkudu, you create a lite version of your product that integrates directly with Zapier/Google Sheets, so users can experience the benefits of lead scoring. This approach ultimately provides an opportunity to acquire new customers and upsell them on paid subscriptions after they become familiar with the product.

Why
The traditional marketing-led growth playbook is dated and expensive. To reach growth goals, companies are shifting to a product-led growth strategy that focuses on improving the product and building growth levers directly within the product.

Questions To Ask
What platforms can I integrate with to acquire users?
What is the white space that my app fills?
How do I maximize the user experience to drive conversions?


Let me know what you guys think. Feedback is super appreciated.

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